The plant phenotyping market is projected to grow to USD 437 million by 2027, growing at a CAGR of 12.9% during the forecast period. Increasing expansions and investments for plant phenotyping in developed regions is a major factor driving the plant phenotyping market. Further to this, rising importance of sustainable crop production using improved crop varieties is also major factor triggering the market growth of plant phenotyping.
High emphasis on funding for plant phenotyping experiments from the government and other organizations in Europe and North America has played a vital role in the growth of the plant phenotyping market in these regions.
Developing countries in the Asia Pacific region are likely to witness strong demand for plant phenotyping products and services, especially for being able to meet challenges for the food, fuel, and feed demand for the growing population in such countries, along with being able to develop plants that can survive the changing climatic conditions in these countries.
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Key companies in the market include plant phenotyping product manufacturers [such as LemnaTec GmbH (Germany), Delta-T Devices Ltd. (UK), CropDesign – BASF SE (Germany), Heinz Walz GmbH (Germany), Phenospex B.V. (Netherlands), WPS (Netherlands), Phenomix (France), Photon Systems Instruments (Czech Republic), and Qubit Systems (Qubit Phenomics) (Canada)] as well as service providers [such as KeyGene N.V. (Netherlands), Rothamsted Research Limited (UK), The Vienna Biocenter Core Facilities GmbH (VBCF) (Austria), and Equinom (Netherlands)]. These companies have been continuously developing their products and services in response to advanced theories based on spectrometry and imagery techniques.
The image analysis segment is expected to account for the largest share of the plant phenotyping market in 2022. These are standalone or additional accessories that can be installed in plant phenotyping equipment systems. The equipment system may contain software installed by default, but with the increasing demand for different applications, additional software and sensors can be integrated according to the requirement of the end user (service providers or research organizations).